RTX Co. (NYSE:RTX) Shares Acquired by Massachusetts Wealth Management

Massachusetts Wealth Management lifted its holdings in shares of RTX Co. (NYSE:RTX) by 6.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,349 shares of the company’s stock after acquiring an additional 500 shares during the period. Massachusetts Wealth Management’s holdings in RTX were worth $814,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new stake in shares of RTX during the 4th quarter worth about $25,000. Planned Solutions Inc. acquired a new position in RTX during the fourth quarter worth approximately $30,000. Alaska Permanent Fund Corp acquired a new position in RTX during the first quarter worth approximately $42,000. Financial Gravity Asset Management Inc. increased its position in RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares during the period. Finally, Tennessee Valley Asset Management Partners acquired a new position in RTX during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on RTX shares. Susquehanna lifted their price target on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. Wells Fargo & Company boosted their target price on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, May 17th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. TD Cowen boosted their target price on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Finally, Bank of America boosted their target price on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $98.33.

Insider Transactions at RTX

In other news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders sold a total of 119,937 shares of company stock valued at $12,256,952 over the last three months. 0.13% of the stock is currently owned by insiders.

RTX Price Performance

RTX traded up $0.33 during trading on Thursday, reaching $100.74. 2,149,212 shares of the stock were exchanged, compared to its average volume of 6,524,184. The business’s 50 day moving average price is $104.35 and its two-hundred day moving average price is $95.95. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The company has a market capitalization of $133.93 billion, a price-to-earnings ratio of 39.51, a P/E/G ratio of 1.76 and a beta of 0.82. RTX Co. has a 1 year low of $68.56 and a 1 year high of $108.65.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. RTX’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 earnings per share. As a group, equities research analysts anticipate that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.50%. RTX’s dividend payout ratio (DPR) is 98.82%.

RTX Company Profile

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.